TRENDS OF INTERNATIONAL FUTURES CONTRACTS TRADING ON ORGANIZED COMMODITY MARKETS
Abstract
The article highlights the main trends in international futures exchange-trading on organized commodity markets, taking into account the influence of fundamental factors of geopolitical instability. The economic essence and main characteristics of futures contracts in the exchange system of organized trading are presented. It has been established that futures contracts are one of the most advanced instruments of organized exchange trading. The main indicators of exchange trading in futures contracts on organized markets are assessed. An assessment of the Futures Industry Association's analytical reports indicates a systematic increase in international exchange trading volumes during 2020-2024, while 2025 became the first year in the last decade to show a decline in international exchange trading volumes. This situation is primarily related to global geopolitical instability. It is established that the main trends of recent years, which characterize the current state and prospects for the functioning of international exchanges, are associated with the consequences of global events. The number of futures contracts concluded on international exchanges increased to 206.5 billion in 2024 – this is the largest record in the entire history of international exchange trading, which was replaced by a 42% drop in 2025. In particular, three main fundamental factors are noted that had the greatest impact on the results of exchange trading in futures contracts on international exchanges, in particular geopolitical instability, climate change, inflation, strengthening of the US dollar, and slowdown of the Chinese economy. In conclusion, it was found that international futures trading in the last decade has contributed to the accumulation of innovative underlying assets that have become the result of financial engineering. In addition to traditional commodity assets, such as agricultural products, metals, timber or energy resources, basic financial indicators that provide an assessment of various price exchange categories, in particular commodity indices, have already become quite traditional.
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